As stronger yen sparks fears over the bank of japan going deeper into negative Interest Rates. Thats something that spooked the market before. Well look whether this last for banks. Our yields have gone lower as well. The white house meantime this may be one of the reasons the selloff, the white house this afternoon saying treasury is working on even more steps to counter tax avoidance after the changes to inversion rules they announced earlier this week and ceos were showing you there are speaking out against antibusiness rhetoric as they see it. Well tell you what they are saying and we have two Business Leaders here to debate the issue of whether the u. S. Is losing its Global Competitive edge. That really is one of the reasons were down 222 points. Searching for the next great business leader, under armour ceo will join us, his stock price is coming up as well. Lets get to the closing bell. With us, ann meletti, brought the rain with her and rick san telli and keith brliss. When yo
Lets check on the markets for you. Two hours and 30 minutes away from the market opening in new york and futures are a little bit softer. The s p 500 futures are negative five. Over in europe, the stoxx 600 getting beaten up this week coul. The ftse off by 8 10 of 1 . Heres the dollar ahead of payrolls. The eurodollar 11426. The dollar on the back foot they re. A forecast for low inflation down under. Yields are creeping a little bit lower, down a basis point at 1. 4 for the 10 year. Big moves in the bond market, matt. Matt that is one of the stories we will be focused on throughout the hour. I also want to kick off my stock move percent with what is i goig on in europe. Another loss that was 42 narrower than the same quarter last year. A secondhalf rally as steel prices improved. Man group is the Worlds Largest publicly traded hedge fund. Bywas moved from a cell to a off of Hedge Fund Fee structures. Paschi took fewer bad loan writeoffs as they are up, but it is a penny stock for real
The dollar is falling along with rates in the break of the press conference. Janete the fact that yellen talked about strength in the domestic economy that concern in the Global Economy that seem to be one of the takeaways from today. Remember that the dollar has 16n the best performer vs. Developed nations, its peers, over the past year. Vs. A basket of currencies and the gyrations through the end of the day. Finishing down by about 1 . Remember also that yellen reiterated we are going to see a gradual trajectory when rates begin to go up and another reminder that again the trajectory here is that rates will eventually go up probably nationshan we see other raise rates, for example. Some strategists are saying for the longer term that the dollar could be good bet. One of the assets were we saw it pop today, gold prices. 1 from a dramatic increase when we got no increase in rates. As yellen emphasized, uncertainty is still sticking around here, so if you are looking for a haven, that i
First of all i think the inversion critique is an odd one. I hate it. Its terrible. Its just a terrible precedent. Its really awful. Its going to do all these distortions and then its not going to do anything. I dont think its going to do as much as i like it to do, as much as, say, lebanon or schumer or some proposed legislation which is right with you tax partly. Or i should say the optimal way. The absence of a functional political system of congress can get around those obstructionists and work together, i think administration has a very important responsibility to try to protect the tax base and will be negligent if they decide not to. Which brings me to another disagreement, territoriality is somehow the long way to go. I would point out to listeners of this discussion, a very Important Initiative thats being undertaken by countries called beps, continually trying to adjust to avoid the very kinds of these erosions, base Erosion Profit shifting. This country to country to how an